Hong Kong to Pay 30% More for ESG Jobs
Companies in Hong Kong may be willing to pay 30% more for employees with expertise in environmental, social, and governance (ESG) to meet their sustainability goals. This is likely because more companies want to become more sustainable and socially responsible, which means they need more ESG professionals.
As per Hays, demand for ESG and sustainability expertise in Hong Kong is on the rise, leading to increased competition for talented professionals in these areas. So, employees with skills in ESG and sustainability can expect a big pay rise when they switch jobs, with some getting more than 30%. Those relocating from overseas may be able to command even higher salaries and benefits as companies compete to attract the best talent in this field.
All of the nearly 2,500 companies that are listed in Hong Kong are now required to publish an annual sustainability report on their ESG performance. This is in addition to the required periodic financial reports. Because of this, there is more demand for people who know about ESG and sustainability, especially in compliance and consulting.
Paddy Balfour, executive director of Asia for sustainability recruitment firm Acre, states that hiring in this area has been particularly strong. Also, John Mullally, the managing director of Robert Walters in Hong Kong, said there had been a 25% increase in hiring for ESG roles in Hong Kong over the past two years. This shows how important ESG is becoming to businesses in the region.
“Relevant skills and knowledge of ESG reporting, climate change and carbon emissions are of high interest to companies when making ESG-related hires,” said Martin Xiang, principal in Heidrick & Struggles Hong Kong.
For more social and governance news
Source: South China Morning Post